Articles Tagged with business bankruptcy

Bankruptcy Lawyer Bryan W. Stone answers the question: “Will I lose my property if I file for bankruptcy?”

The past week has been a tough one for the “Nasty Women” of the world, and not just Hillary Clinton supporters.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 13 bankruptcy?”

One year ago this December, the paperwork that had been in use since the 1980s for people and businesses filing for bankruptcy protection was replaced with forms that were supposed to be clearer and easier to understand.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a small business bankruptcy ?”

No, the top executives for the bankrupted Sports Authority do not have the authority to give themselves $2.85 million in bonuses, the company’s U.S. bankruptcy judge has ruled.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

Many people have heard about and may even be familiar with Chapter 7 and Chapter 13 bankruptcies. These two chapters are used by individuals who are in debt and looking for a way to start fresh, either through liquidation (Chapter 7) or reorganization (Chapter 13). But what about Chapter 11? To find out more about Chapter 11 bankruptcies, keep reading.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Will I lose my property if I file for bankruptcy ?”

Clients and potential clients have frequently asked me if there are actions or statements they should be making or taking or refraining from making or taking in their countenanced or pending bankruptcy cases.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What is Chapter 11 Bankruptcy?”

 

The number of businesses that filed for bankruptcy in the State of Texas in 2014 declined by twenty percent compared with 2013, according to Androvett Legal Media. Business bankruptcy filings in the Lone Star State are down by more than half over the past five years.

Business 101 Mecklenburg Bankruptcy Lawyer North Carolina Chapter 7 AttorneyAs the United States’ economy sputtered into and out of recession in 2009 and after, the Lone Star State’s economy has boomed, leading some pundits to argue that Texas has been propping up the nation’s economy as a whole.

The state’s booming economy may be reducing bankruptcies, but it was not the booming economy that had a gathering of some 100 Energy Future Holdings advisers gasping in a boardroom last month. The gasps followed the revelation by former American Airlines general counsel Gary Kennedy that the airline’s daily legal bills in its recent bankruptcy ran to about $500,000 per day. Kennedy said businesses should seek alternatives to bankruptcy because, he said, the costs of a business bankruptcies have spiraled out of control.

Martin Sosland, a partner at Weil, Gotshal & Manges—a Dallas, Texas-based law firm—did not dispute that business bankruptcies can be expensive, but he cited the American Airlines bankruptcy as a perfect example of how a Chapter 11 proceeding can help a struggling business “restructure debt, renegotiate union contracts,” and merge or consolidate business operations in a manner that returns the business to profitability. Sosland said the airline’s creditors were paid 100 cents on the dollar and that American’s stock skyrocketed from 31 cents at the time of the bankruptcy filing to over $50 today.

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